The duties of your property manager:

When choosing your property management company, you not only have to find out what services are offered by the company, but are sure that the managers are competent enough to carry out the responsibilities of a property manager. The basic duties the manager should carry out are:

Performing of duties related to maintenance and management of property. If there are some tasks you prefer doing on your own, mention this to the manager. If the company has their own handymen for maintenance, find out how they work as if they have to travel for your maintenance, a simple job like changing of bulbs may cost three fold the actual costs.

Major repairs should be complete with three bids, and receipts sent to back up the bills. For your protection, set limits on how much the manager can spend without your approval. This is because if bids are too high, you are the better person to bid and know how much you can afford for the bid.

The manager should be present for all city inspections and make sure that the company provides you with annual inspections, and a written report.

A 24 hour emergency service is a service the company should offer, without any extra charge.

The company should be competent to market and advertise the rental, while being familiar with the local market. They should be able to price the unit to have it rent quickly, at the right rate. Find out their advertisement sources as company websites and craigslist are cheaper and better options than newspaper classifieds.

Accounts should be clear, available online and always available. They should negotiate rental agreements, track income and expenses, deal problems of tenants, collect rent promptly and deposit in an account or trust and are competent to pay all operating costs with the rent collected.